Cheap Gap Insurance in Illinois (10 Most Affordable Companies for 2024)
Amica, The Hartford, and Progressive lead the way for cheap gap insurance in Illinois. Amica offers unbeatable Illinois gap coverage starting at just $10/month. The Hartford stands out as the top pick for seniors, and Progressive's competitive loyalty rewards lower Illinois gap insurance rates over time.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Sep 19, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Sep 19, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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768 reviewsCompany Facts
Min. Gap Insurance in Illinois
A.M. Best Rating
Complaint Level
Pros & Cons
768 reviews
765 reviewsCompany Facts
Min. Gap Insurance in Illinois
A.M. Best Rating
Complaint Level
Pros & Cons
765 reviews
6,435 reviewsCompany Facts
Min. Gap Insurance in Illinois
A.M. Best Rating
Complaint Level
Pros & Cons
6,435 reviews
Amica, The Hartford, and Progressive are the best choices for cheap gap insurance in Illinois to protect drivers from financial gaps in their vehicle loans.
These providers have the best Illinois auto insurance for new and leased vehicles at affordable rates. The Hartford offers low rates to senior drivers, while Amica and Progressive have competitive loyalty discounts.
Our Top 10 Company Picks: Cheap Gap Insurance in Illinois
| Company | Rank | Monthly Rates | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | $10 | A+ | Customer Service | Amica |
 | #2 | $12 | A++ | Senior Drivers | The Hartford |
 | #3 | $15 | A+ | Loyalty Rewards | Progressive |
 | #4 | $18 | B | Claims Service | State Farm |
 | #5 | $20 | A++ | Financial Strength | Travelers |
 | #6 | $22 | A | Insurance Discounts | Farmers |
 | #7 | $25 | A+ | Vanishing Deductible | Nationwide |
 | #8 | $27 | A | Costco Members | American Family |
 | #9 | $30 | A | Affinity Discounts | Liberty Mutual |
 | #10 | $32 | A+ | Local Agents | Allstate |
Stop overpaying for Illinois car insurance and get the gap coverage you need.
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- Gap insurance in Illinois prevents financial loss if your new car is totaled
- Amica has the cheapest Illinois gap insurance rates for $10/month
- The Hartford has the best gap insurance for seniors in Illinois
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#1 – Amica: Top Overall Pick
Pros
- Affordable Premiums: Amica is the cheapest gap insurance company in Illinois for minimum coverage at $10/month and full coverage with gap at $30/month.
- Exceptional Claims Service: Amica is the #1 company for Illinois gap insurance claims satisfaction in annual J.D. Power surveys. Get full ratings in our Amica Insurance review.
- Loyalty Discounts: Amica rewards Illinois drivers who remain customers for at least two years, and the gap insurance discount grows with each policy renewal.
Cons
- Fewer Discounts: Amica doesn’t offer as many discounts as other gap insurance companies in Illinois.
- Regional Availability: If you move away from Illinois, you might have difficulty finding Amica gap insurance in other states.
#2 – The Hartford: Cheapest for Seniors
Pros
- Competitive Pricing: The Hartford has cheap gap insurance in Illinois starting at $12/month. Compare free quotes in The Hartford auto insurance review.
- Senior Driver Benefits: The Hartford gap insurance comes with special perks for older drivers, including educational resources, policy bundles, and defensive driver discounts.
- Wide Range of Discounts: The Hartford offers a long list of discounts on gap insurance in Illinois, with big savings for safe drivers, first responders, and multiple vehicles.
Cons
- Conditional Availability: Access to The Hartford gap insurance in Illinois is limited to seniors with AARP memberships.
- Small Bundling Discount: The Hartford only offers 5% off Illinois gap insurance when you bundle with a home or renters policy.
#3 – Progressive: Best Loyalty Rewards
Pros
- Cheap Gap Insurance: Progressive gap insurance starts at $15/month in Illinois. Compare prices and more in our Progressive auto insurance company review.
- Loyalty Rewards: Drivers start receiving rewards after their first policy renewal, including additional savings for teen gap insurance in Illinois.
- Accident Forgiveness: Progressive gap insurance in Illinois includes small accident forgiveness, helping to protect drivers from premium increases after their first minor accident.
Cons
- Coverage Limitations: There may be limits on the maximum coverage amounts for gap insurance in Illinois, which might not meet the needs of all drivers.
- Occasional App Issues: Some users have reported experiencing issues with Progressive’s mobile app, affecting their ability to manage Illinois gap insurance effectively.
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#4 – State Farm: Best Claims Service
Pros
- Quick Claims Processing: State Farm ranks in the top five for Illinois gap insurance claims satisfaction for fast processing times and attentive agents.
- High Customer Approval: State Farm regularly earns strong customer satisfaction ratings, indicating favorable experiences with its gap insurance offerings in Illinois.
- Personalized Local Agent Service: Access to local agents provides tailored, face-to-face service for gap insurance in Illinois, enhancing the customer experience.
Cons
- Moderate Financial Rating: The B rating from A.M. Best may not inspire as much confidence as higher-rated gap insurance providers in Illinois. Learn more in our State Farm review.
- Limited Customization Flexibility: Compared to some competitors, State Farm offers fewer options for tailoring gap insurance in Illinois policies to individual needs.
#5 – Travelers: Best Financial Strength
Pros
- Excellent Financial Rating: An A++ rating from A.M. Best underscores Travelers’ strong financial position, assuring reliability for gap insurance in Illinois.
- Extensive Coverage Options: Travelers has a broad selection of coverage plans, making its gap insurance in Illinois adaptable to various needs. Learn more in our review of Travelers auto insurance.
- Convenient Online Management: Travelers’ digital tools facilitate easy online management of gap insurance in Illinois, allowing for seamless policy updates and claims handling.
Cons
- Low Claims Satisfaction: Travelers gap insurance ranks below average in Illinois for claims satisfaction.
- Generalist Approach: Travelers is not exclusively focused on gap insurance in Illinois, which might impact the depth of specialization and expertise in this area.
#6 – Farmers: Cheapest With Discounts
Pros
- Variety of Policy Discounts: Farmers provides more discounts on Illinois gap insurance than any other company on this list. These are the best Farmers auto insurance discounts.
- Experienced Agents: Access to knowledgeable agents helps drivers navigate their gap insurance in Illinois, providing expert advice and support.
- User-Friendly Digital Tools: Farmers offers easy-to-use online tools for managing gap insurance in Illinois, making policy adjustments and claims filing straightforward.
Cons
- Higher Cost: Farmers gap insurance in Illinois is more expensive than some other providers if you don’t qualify for discounts.
- Average Customer Satisfaction: Customer satisfaction ratings for Illinois gap insurance with Farmers are moderate, suggesting room for improvement.
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#7 – Nationwide: Cheapest With Vanishing Deductible
Pros
- Vanishing Deductible: Nationwide offers a unique vanishing deductible option for gap insurance in Illinois, rewarding safe drivers by lowering their deductibles over time.
- Multiple Discounts Available: Discounts for safe driving, multi-policy, and insuring multiple vehicles make Nationwide gap insurance in Illinois more affordable.
- Widespread Availability: If you leave Illinois, you can bring your Nationwide gap insurance policy to multiple states. Compare national coverage in our Nationwide review.
Cons
- Higher Premiums: Nationwide gap insurance in Illinois starts at $25 per month, which is on the higher end compared to some competitors.
- Limited Digital Management: The digital tools offered by Nationwide for managing Illinois gap insurance are less advanced compared to other leading providers.
#8 – American Family: Cheapest for Costco Members
Pros
- Exclusive Costco Discounts: American Family offers special discounts on gap insurance in Illinois for Costco members, providing added savings.
- Solid Financial Rating: With an A rating from A.M. Best, it’s a reliable choice for handling gap insurance in Illinois claims. Read our American Family review to find out more.
- Customer-Focused Approach: American Family prioritizes customer satisfaction, which is reflected in positive feedback for its gap insurance in Illinois services.
Cons
- Higher Price Point: At $27 per month, American Family gap insurance in Illinois is pricier than many competitors, which may deter cost-sensitive customers.
- Discount Limitations: Only certain customers, such as Costco members, can access specific discounts on gap insurance in Illinois, restricting savings opportunities.
#9 – Liberty Mutual: Cheapest With Affinity Discounts
Pros
- Affinity Discounts: Liberty Mutual offers various affinity discounts on gap insurance in Illinois. To see monthly premiums, read our Liberty Mutual auto insurance review.
- Strong Financial Standing: With an A rating from A.M. Best, Liberty Mutual is a dependable option for gap insurance in Illinois, ensuring claims are handled efficiently.
- Comprehensive Online Tools: An easy-to-navigate website and app makes managing gap insurance in Illinois with Liberty Mutual simple and convenient.
Cons
- Higher Premium Costs: Starting at $30 per month, Liberty Mutual gap insurance in Illinois is more expensive than many other providers.
- Eligibility for Discounts: The availability of affinity discounts on cheap gap insurance in Illinois may be limited to specific groups, excluding some customers.
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#10 – Allstate: Best for Local Agents
Pros
- Discount Opportunities: Various discounts are available, making Allstate gap insurance in Illinois more affordable for eligible drivers. Read more in our Allstate auto insurance review.
- Personalized Service: Allstate gap insurance agents in Illinois make policy adjustments and claims filing more straightforward for customers.
- Strong Financial Standing: The A+ rating by A.M. Best guarantees financial robustness and dependable claims management for Illinois gap insurance.
Cons
- Higher Premium Rates: Allstate gap insurance in Illinois starts at $32 per month, which is higher than many competitors on our list.
- Strict Discount Requirements: Access to discounts on Illinois gap insurance may require meeting specific criteria, which could limit savings for some drivers.
Where to Get Cheap Gap Insurance Rates in Illinois
The following table provides an overview of the monthly rates for both minimum and full coverage gap insurance from the best gap insurance companies in Illinois:
Gap Insurance Monthly Rates in Illinois by Provider & Coverage Level
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| $32 | $75 |
| $27 | $65 |
| $10 | $30 |
| $22 | $55 |
| $30 | $70 |
| $25 | $60 |
| $15 | $40 |
| $18 | $45 |
| $12 | $35 |
| $20 | $50 |
Amica offers the lowest rates, starting at just $10 per month for minimum coverage and $30/month for full coverage. On the other end, Allstate’s gap insurance is priced higher, with minimum coverage at $32/month and full coverage reaching $75 per month, reflecting its extensive personalized service.
Other providers, like The Hartford and Progressive, offer competitive rates and loyalty discounts for specific drivers. Progressive offers gap insurance with loyalty rewards for young drivers who renew their policies after six months, making it the best company for cheap teen auto insurance in Illinois.
Several factors determine the cost of gap insurance in Illinois. Vehicle type is key — higher-value or rapidly depreciating cars usually lead to higher premiums. Consistently comparing gap insurance quotes from various providers guarantees competitive pricing and may reveal unique discounts you qualify for based on age, driving history, and other factors.
| Insurance Company | Available Discounts |
|---|---|
| Multi-policy, Safe Driving, Early Signing, Bundling |
| Multi-policy, Safe Driving, Vehicle Safety Features, Early Signing |
| Driving Behavior-Based Discounts, Safe Driving, Referral |
| Multi-policy, Safe Driving, Good Student, Bundling |
| Multi-policy, Safe Driving, Vehicle Safety Features, Early Signing |
| Multi-policy, Safe Driving, Vehicle Safety Features, Accident-Free |
| Multi-policy, Safe Driving, Good Student, Homeowner |
| Multi-policy, Safe Driving, Good Student, Vehicle Safety Features |
| Multi-policy, Safe Driving, Good Student |
| Multi-policy, Safe Driving, Good Student, Homeowner |
Illinois drivers can significantly reduce gap insurance premiums with discounts for enrolling in safe driving courses, bundling multiple policies, and reducing mileage.
Illinois Report Card: Auto Insurance Premiums
| Category | Grade | Explanation |
|---|---|---|
| Average Premiums | B | Slightly above the national average for most drivers |
| Premiums for High-Risk Drivers | C+ | Higher premiums for drivers with accidents or violations |
| Discount Availability | A- | Strong availability for good drivers and multi-policy holders |
| Regional Variation | B- | Urban areas like Chicago have significantly higher rates |
| Customer Satisfaction | B+ | Generally positive feedback, especially on claims handling |
A clean driving record is of the utmost importance, as it has a direct impact on premium rates. Illinois auto insurance companies check driving records, and safer drivers are less risky on the road and tend to get cheaper gap coverage than drivers with accidents or speeding tickets.
The best way to get cheap gap insurance in Illinois is to adjust your coverage levels to meet the current value of your vehicle. This is particularly important for older vehicles that may not need comprehensive or collision coverage.
Illinois Report Card: Auto Insurance Discounts
| Discount Name | Grade | Savings | Participating Providers |
|---|---|---|---|
| Good Driver Discount | A | 22% | State Farm, Geico, Allstate, Progressive |
| Multi-Policy Discount | A- | 20% | Nationwide, Liberty Mutual, USAA |
| Defensive Driving Discount | B+ | 12% | The Hartford, Geico, Allstate |
| Low Mileage Discount | B | 8% | Progressive, Nationwide, Travelers |
| Good Student Discount | A | 17% | Liberty Mutual, State Farm, Allstate |
Additionally, selecting higher deductibles can result in immediate premium savings. However, this approach also elevates out-of-pocket expenses if you ever need to file an auto insurance claim.
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Understanding the Most Frequent Auto Insurance Claims in Illinois
In Illinois, collision claims make up the largest portion, followed by comprehensive, property damage, bodily injury liability, and personal injury protection (PIP) claims. Each claim type varies in both frequency and average cost, highlighting the importance of comprehensive coverage.
5 Most Common Auto Insurance Claims in Illinois
| Claim Type | Portion of Claims | Cost per Claim |
|---|---|---|
| Collision | 33% | $3,800 |
| Comprehensive | 22% | $2,500 |
| Property Damage | 18% | $4,100 |
| Bodily Injury Liability | 17% | $14,000 |
| Personal Injury Protection (PIP) | 10% | $9,500 |
Illinois sees thousands of accidents and insurance claims annually, especially in its most populated areas. Cities like Chicago, Aurora, and Naperville report significant numbers of accidents and claims each year, with Chicago leading by a large margin.
Illinois Accidents & Claims per Year by City
| City | Accidents per Year | Claims per Year |
|---|---|---|
| Aurora | 3,600 | 2,700 |
| Chicago | 12,500 | 9,300 |
| Naperville | 3,200 | 2,400 |
| Rockford | 2,900 | 2,100 |
| Springfield | 2,100 | $1,700 |
Reviewing these figures can help drivers better understand risk levels in different areas of the state. Compare rates to ensure you have the right coverage to protect against these common claims.
The Leading Gap Insurance Providers in Illinois
Amica, The Hartford, and Progressive offer cheap gap insurance in Illinois with exclusive discounts for long-term customers. Together, these top providers showcase a robust spectrum of choices in Illinois, ensuring that every driver can find the best gap insurance policy.
Progressive offers flexible policies and a range of discounts that reward safe driving and customer loyalty, making it ideal for families who need to insure teen drivers. The Hartford excels with the best auto insurance for seniors in Illinois and exclusive discounts for AARP members.
Amica stands out in Illinois by combining affordable gap insurance with quality service and a quick claims process that enhances customer satisfaction.Kristen Gryglik Licensed Insurance Agent
Avoid expensive Illinois auto insurance premiums by entering your ZIP code below to see which company has the cheapest rates for you.
Frequently Asked Questions
Is Illinois gap insurance actually worth it?
Yes, gap insurance in Illinois is worth it if you owe more on your vehicle than its current market value.
How much is gap insurance in Illinois?
Gap insurance costs in Illinois vary by provider, with rates typically starting around $10 per month. Enter your ZIP code to see how much gap insurance costs near you.
Is gap insurance mandatory in Illinois?
No, gap insurance is not mandatory in Illinois but is recommended for leased or financed vehicles. Scroll through the minimum auto insurance requirements by state to see how much coverage you need.
Can gap insurance in Illinois be purchased later?
Yes, gap insurance in Illinois can be added later, typically within the first few years of new vehicle ownership.
Does Illinois gap insurance pay off a loan?
Yes, gap insurance in Illinois is designed to pay the difference between the vehicle’s value and the remaining loan balance if totaled.
How do I calculate gap insurance in Illinois?
Most Illinois gap insurance calculators subtract the car’s current value from your remaining loan balance to determine potential coverage needs.
Will gap insurance in Illinois cover a blown engine?
Does auto insurance cover engine failure? No, Illinois gap insurance does not cover engine failures or other mechanical breakdowns; it only activates in total loss situations.
Does gap insurance in Illinois cover mechanical failure?
No, gap insurance in Illinois does not cover mechanical failures or repairs. You need a vehicle warranty or mechanical breakdown insurance to cover those events.
What are the cons of gap insurance in Illinois?
Cons of gap insurance in Illinois include paying for coverage you may not need if your loan balance quickly aligns with the car’s value.
Should I drop my gap insurance in Illinois?
You should consider dropping gap insurance in Illinois once your loan balance is less than the car’s market value to avoid unnecessary costs.
How do I start an Illinois gap insurance claim?
To file an auto insurance claim on Illinois gap coverage, contact your insurer online or over the phone with the claim details as soon as the accident or incident happens.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.